Sunderland fans gutted as takeover called off due to greed of owners – Report
There are some very angry and emotional Sunderland fans on Tuesday afternoon.
News breaking that the much awaited takeover won’t be completed and indeed has been called off.
Media reports saying that the American (potential) buyers have called the deal off after having a close look at the books.
The newspaper reports saying that the Americans have pulled out after finding out that the current owners led by Stewart Donald, are asking for far more money than the club is actually worth.
It is reported that after doing due diligence they discovered that the Sunderland owners had significantly overvalued the club.
Stuck with a clueless manager in Jack Ross and once again looking very unlikely to get automatic promotion, Sunderland fans had been pinning all their hopes on a takeover.
The Mackems currently sixth in the table and already eight points off the top, with clubs such as Wycombe and Fleetwood above them.
Sunderland fans have increasingly come to realise what kind of chancers they have in charge at the minute, looking to make as much money as possible with a quick sale, having even got hundreds of Mackems to provide free labour in replacing seats at the stadium.
The idea of overvaluing the club preventing a sale is a familiar one for Newcastle fans.
Mike Ashley having pretended he has been trying to sell Newcastle United for over 11 years now, when the reality is that he ensures it won’t be by overvaluing NUFC to make a sale impossible.
Sunderland fans discover takeover at an end – report from The Sun:
‘Sunderland’s super-rich American bidders are pulling out of takeover talks over the valuation of the club.
The League One sleeping giants have been told the shock news after MSD Partners spent over a month trying to finalise a deal.
The group, led by Glenn Fuhrman and backed by Dell computer cash, were unhappy with the buy-out plan after due diligence.
Owner Stewart Donald hoped to sell for a good price and keep a major say in the Black Cats.
But the Americans have too many questions unanswered.
The parties discussed initial figures over a multi-million sale before Fuhrman flew in to push on with the deal a few weeks ago.
Those numbers changed after queries were raised by the American’s legal team during a lengthy investigation.
The Americans felt the club was over-valued and also doubted whether they had as many assets on the academy side as they were led to believe.
Now Donald and his men are on the look-out for other investors.
He is also under pressure to sack boss Jack Ross but that would be a costly exercise.’
If you would like to feature on The Mag, submit your article to [email protected]